Gulf International Bank UK Ltd Sells 1,800 Shares of Target Co. (NYSE:TGT)

Gulf International Bank UK Ltd reduced its position in Target Co. (NYSE:TGT) by 4.7% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 36,506 shares of the retailer’s stock after selling 1,800 shares during the period. Gulf International Bank UK Ltd’s holdings in Target were worth $5,689,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of the company. Legal & General Group Plc raised its position in Target by 6.8% in the second quarter. Legal & General Group Plc now owns 4,374,851 shares of the retailer’s stock worth $647,652,000 after acquiring an additional 279,656 shares during the period. Victory Capital Management Inc. lifted its position in Target by 11.4% during the second quarter. Victory Capital Management Inc. now owns 4,316,738 shares of the retailer’s stock valued at $639,050,000 after purchasing an additional 440,307 shares in the last quarter. Clearbridge Investments LLC grew its holdings in Target by 17.5% during the first quarter. Clearbridge Investments LLC now owns 3,153,875 shares of the retailer’s stock valued at $558,898,000 after purchasing an additional 470,647 shares during the period. Dimensional Fund Advisors LP increased its position in Target by 16.2% in the second quarter. Dimensional Fund Advisors LP now owns 3,114,400 shares of the retailer’s stock worth $461,031,000 after buying an additional 435,229 shares in the last quarter. Finally, Diamond Hill Capital Management Inc. raised its stake in shares of Target by 9.7% in the second quarter. Diamond Hill Capital Management Inc. now owns 3,094,644 shares of the retailer’s stock worth $458,131,000 after buying an additional 272,521 shares during the period. Institutional investors own 79.73% of the company’s stock.

Target Stock Performance

TGT stock opened at $151.07 on Wednesday. Target Co. has a twelve month low of $105.23 and a twelve month high of $181.86. The firm has a market cap of $69.59 billion, a price-to-earnings ratio of 15.61, a PEG ratio of 1.95 and a beta of 1.24. The business’s fifty day simple moving average is $152.71 and its two-hundred day simple moving average is $150.99. The company has a quick ratio of 0.27, a current ratio of 0.90 and a debt-to-equity ratio of 0.95.

Target (NYSE:TGT) last announced its quarterly earnings data on Wednesday, August 21st. The retailer reported $2.57 earnings per share for the quarter, beating analysts’ consensus estimates of $2.18 by $0.39. The company had revenue of $25.02 billion during the quarter, compared to analyst estimates of $25.19 billion. Target had a net margin of 4.18% and a return on equity of 33.10%. The firm’s revenue for the quarter was up 1.0% on a year-over-year basis. During the same quarter last year, the business posted $1.80 EPS. Analysts predict that Target Co. will post 9.54 earnings per share for the current year.

Target Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 10th. Shareholders of record on Wednesday, November 20th will be given a dividend of $1.12 per share. This represents a $4.48 dividend on an annualized basis and a yield of 2.97%. The ex-dividend date is Wednesday, November 20th. Target’s dividend payout ratio (DPR) is presently 46.28%.

Insiders Place Their Bets

In other news, insider Brian C. Cornell sold 45,000 shares of the firm’s stock in a transaction on Tuesday, August 27th. The stock was sold at an average price of $158.67, for a total transaction of $7,140,150.00. Following the transaction, the insider now owns 303,843 shares in the company, valued at approximately $48,210,768.81. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other news, insider Brian C. Cornell sold 45,000 shares of the stock in a transaction that occurred on Tuesday, August 27th. The shares were sold at an average price of $158.67, for a total transaction of $7,140,150.00. Following the transaction, the insider now directly owns 303,843 shares in the company, valued at approximately $48,210,768.81. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Matthew A. Liegel sold 1,000 shares of the business’s stock in a transaction that occurred on Friday, August 30th. The stock was sold at an average price of $153.13, for a total transaction of $153,130.00. Following the completion of the transaction, the chief accounting officer now directly owns 7,276 shares of the company’s stock, valued at $1,114,173.88. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 52,348 shares of company stock worth $8,290,995. 0.15% of the stock is currently owned by company insiders.

Analyst Ratings Changes

TGT has been the subject of a number of recent research reports. Wells Fargo & Company boosted their price objective on Target from $160.00 to $180.00 and gave the company an “overweight” rating in a research note on Thursday, August 22nd. Daiwa America upgraded shares of Target to a “strong-buy” rating in a research report on Monday, August 26th. Bank of America increased their price target on Target from $190.00 to $195.00 and gave the stock a “buy” rating in a research note on Thursday, August 22nd. Piper Sandler started coverage on Target in a research report on Wednesday, July 10th. They issued a “neutral” rating and a $156.00 price objective on the stock. Finally, Evercore ISI decreased their target price on Target from $170.00 to $165.00 and set an “in-line” rating on the stock in a research note on Tuesday, October 22nd. One research analyst has rated the stock with a sell rating, ten have given a hold rating, nineteen have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $179.47.

Target Profile

Target Corporation operates as a general merchandise retailer in the United States. The company offers apparel for women, men, boys, girls, toddlers, and infants and newborns, as well as jewelry, accessories, and shoes; and beauty and personal care, baby gear, cleaning, paper products, and pet supplies.